Irish healthy drinks company The Naked Collective has announced that it has secured in excess of €6.2 million in its latest fundraising round.
The Naked Collective Statement
The Naked Collective stated, "Today…healthy drinks start-up, The Naked Collective, announced they have secured in excess of €6.2 million (£5.3million) in their latest fundraising round. This has exceeded the business original target of €5 million, in yet another sign that the appetite for health and wellness products continues to soar.
"The Irish founded company which raised €6 million last year have already launched their drinks, Mude and So.Beer, in over 4,000 stockists which include Spar in Ireland, Sobeys retail group in Canada, Dimar and Iperconad in Italy WH Smith Stores in the UK.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
"The latest finance will further support their global sales & marketing expansion plans and in particular their US expansion following their recent successes in New York, California and a number of other US states. Having recently appointed CA Fortune, one of the most successful agencies in the US market, as a partner, the business is tracking nicely towards making the range available in over 5,000 stores by spring 2022.
"The investment success comes at the same time as their Mude brand is unveiled as the lead sponsor of an iconic concert, Rita Ora Live from the Eiffel Tower. The event will be broadcast globally on September 30th, and is in conjunction with the renowned Paris Fashion Week, and will see the best of live music, dance and iconic fashion all come together. This is yet another huge win for the young business.
"To facilitate its North American ambitions, the company has confirmed that co-CEO and co-founder, Niall Phelan will permanently relocate to the United States to further grow the business."
Co-CEO And Co-Founder Statement
Phelan stated, "We knew from the outset that there was a market for a brand like ours, but to have that substantiated by investors and industry leaders is another great milestone. Having only launched just over a year ago, and in the face of several challenges (COVID and Brexit), we are immensely proud of how The Naked Collective has fared thus far. The rapid growth of the brand and support from investors is yet further proof of the increased consumer demand for serious health and wellness products."
The Naked Collective co-founder Catherina Butler stated, "We are already enjoying impressive growth across all our key markets. In the UK, we've just doubled our distribution on Mude across the WH Smith travel retail estate in the last month. Our products can be purchased in 1/3 of the Irish retail market, and we are on target to make the brands available in over 5000 US stores by Spring next year. This is testament to the growing appetited for carbon neutral, healthy, all natural drinks like ours."
The Naked Collective Information
The Naked Collective added, "The Naked Collective, which was founded in Ireland in late 2019, has already taken onboard well-known ambassadors to help shape its sustainability and wellness directions such as ultraendurance athlete and charity-educational activist Mark Beaumont, who famously cycled around the world in 80 days, the brilliant 360 creative music artist, regenerative fashion advisor and environmentalist Elle L, and Louise Hazel, a gold-medallist Olympian, celebrity trainer, educator and creator of female-first gym SLAY in Los Angeles."
The above news follows news from earlier this year that The Naked Collective was hoping to raise €2.5 million in investment via a crowdfunding campaign as part of a €15 million overall fundraise.
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.